BAKU, Azerbaijan, December 19. The Asian
Development Bank (ADB) has invested 41 million Georgian lari ($15.2
million) as an anchor investor in sustainability-linked bonds
issued by Tegeta Holding, marking the first such bonds denominated
in lari, Trend
reports citing the bank.
ADB’s participation helped mobilise Tegeta’s bond issuance,
which raised a total of 260 million lari (about $95.7 million) on
the Tbilisi Stock Exchange, providing a boost to sustainable
transport and green mobility in the South Caucasus.
Sustainability-linked bonds tie financial terms to the
achievement of specific environmental or social targets. In
Tegeta’s case, these include modernising and expanding its
low-emission vehicle fleet and strengthening environmental, social
and governance standards. Proceeds from the issuance will finance
projects aimed at cutting carbon emissions and promoting cleaner
transport, mainly in Georgia and Armenia.
ADB has supported Georgia since 2007 and is the country’s
largest multilateral development partner. Its loans, grants and
technical assistance to Georgia total about $5 billion, including
around $1 billion directed to the private sector.
Under its current five-year country partnership strategy, ADB
aims to help Georgia develop into a green and inclusive regional
gateway, while supporting policy reforms, capacity building,
resilient infrastructure, regional integration, and investments in
both the public and private sectors.
